Rock tl, How many plays does this Waxie guy recommend per day or week? You said one of the sites is for swing traders. Are both of them full time pursuits, and if so, do you know of a site which recommends less, such as a few plays per week? Thanks, Vienna
Vienna, Both sites do about 10-20 roundtrips a day... Sometimes they have a swing position (long or short) and still daytrade that same stock... They are both FULL TIME TRADERS... SORRY, I know of no site (profitable) that trades only a few trades per week... ....as always, GoodInvesting, Rocky
Since this is a thread about Dan Zanger I thought some of you might be interested in hearing a free presentation that we invited Dan to present at a free stock traders club we have in Tampa, FL. We have anywhere from 100 to 500 people attending these free club meetings, so if you are in the area you are more than welcomed to attend our free monthly meetings. Saturday March 17th 2:00 - 5:00 PM FREE Tampa, FL club meeting with Dan Zanger the world record holder for his 164,000% return, turning $11,000 into $18 million in 3 years and Bill McKinley & Doug Newberry of EarningScanPro.com The following is an update and changes for the Tampa Cornerstone Investors Network club meeting on Saturday March 17th (directions at end of message)with our special guest speakers Dan Zanger, the man who was featured in Fortune Magazine for his 164,00% return, turning $11,000 into $18 Million in 3 years and Bill McKinley & Doug Newberry of EarningScanPro.com who will be there to show a simple new way to play the earnings game with their high probability, high profitability system. *** The meeting will go from 2:00 - 5:00 PM on Saturday March 17th. Info and outlines of these two different presentations follow: 1. Dan Zanger of Chartpattern.com 2. Bill McKinley & Doug Newberry of EarningScanPro.com 1. Dan Zanger's Presentation Over the last ten years, Dan Zanger has spent over 10,000 hours studying every type of chart formation imaginable. From up-trends to downtrends to stock patterns that look a lot like flags and odd-looking cups... and over these years, he came to the realization that stocks and their chart patterns repeat themselves over and over again. Whatâs even more incredible is that certain patterns appear before the market sharply increases, and others show up before declines. Dan will teach you about the different types of patterns that occur in stocks on a regular basis, what to look for when predicting market trends, and how to recognize and understand the right stock patterns to make more informative and timely buying or selling decisions. The following is an outline of what Dan Zanger will be talking about: * Brain cleansing * Significance of trend lines * Setting Stops * Identifying Buy Areas * Identifying When to Sell * Duration of Time the Market Moves * Chartpattern Analysis and Various Chartpatterns Directions to the Cornerstone Investors Network club meetings at Manhattan Baptist Church in Tampa. *** Directions : From I-275, go south on Dale Mabry toEuclid Ave & turn right. Euclid Ave is just past McDonalds restaurant just before Britton Plaza with Payless Shoes onthe right and a Shell station on the left. Continue on Euclid for four blocks and take a left at the light on to S. Manhattan Ave. and go 3 blocks. The Manhattan Baptist Church is the 3rd church on left at 4300 S. Manhattan Avenue. There is plenty of parking and it is free. If you come from St. Pete across the Gandy Bridge on Gandy Blvd. go to the second stop light to Manhattan Ave.and turn left. Go 5 blocks north and the church is on the right. If you need clarification of directions you can reach the church at 813-831-1951 Monday - Friday 9:00 - 5:00.
RockTheLurker, I know you are still investigating Millenium-Traders and Waxie, but could you give us any feed back as to what you have discovered about these two sites so far. Also since the results they send out by email are the maximum gains someone could have made if you exited at the exact high of all their calls, how do find the profits to be in reality, with the multiple calls they give to exit a position. Do you exit your entire position with the first exit call or do you scale out of the position instead, knowing that they usually make more than one exit call? If you are not actually trading these picks yet, what have been your observations? How profitable would a person be exiting on their first exit call, etc.? I see you live here in Tampa, FL also. If you don't mind, contact me with a way to reach you by email or phone. Michael Norris michaelnorris@ij.net http://www.CornerstoneInvestorsNetwork.com
GoodMorningMike, YOU HAVE MAIL!!!! Your question is about the same as the one you posted on 2/25/01.....and my answer is the same as on my post 2/26/01... Let me try to make this simple: Site calls for a BUY long on XYZ co. @ 25.00 I BUY @25.06 I watch the flow... I SELL @25.56... Site calls to SELL at @26.06 XYZ goes to 27.06 I made 50 cents per share... Site made 1 buck per share... Site can claim YOU "COULD" HAVE MADE 2 bucks per share... SoFar both sites are batting at 94%+ profitable trades... I LIKE THAT!!! ....as always, GoodInvesting, Rocky
U~P~D~A~T~E.... Both sites are still killing the market (long&short)... Now about 96% profitable trades... Watch Bulls&Bears on FOX to see Waxie of TheTrendFund... ....as always, GoodInvesting, Rocky
Rock: Do you observe these sites to learn how to pick these calls yourself? That would be my purpose of following a chat room. To learn consistancy on new strategies. How do you think Tiny picks his Focus lists? I would think it is the same as trying to pick a reversal pattern, and having trigger points in place for either direction the price action takes off. I'm am thinking of swing positions, but his triggers are to take an intra-day swing. In your case, 50 cents. Personally, I have observed this site for a trial period. I would like to put my own Focus list together, and give it a try. This will take up the boring times that I experience waiting for much better(point swing) setups. I don't use L2, and with this trigger system, it should be no problem grabbing 50 cents. To follow up with my first question, If you have a known scanning method to identify this "Focus list" stategy, or an idea how tiny's list is acquired, will you let me now? Thanks, Jeffrey
Also, I wanted to point out that Millinium Traders have a 3pt stop loss on everything they call, yet most of their calls turn positive. Its hard for me to ever hold if a stock goes 50 cents in the wrong direction. These calls have made 12pts plus all last week. This is without legging in or out of a position. Out of 15 calls they may get 1 or 2 losses. With their calculations. Is this 3pt. stop loss a somewhat standard practice for daytraders?(Not scalpers) Anyone?
Jeffery when I daytrade breakouts. I use a one point stop loss with a dayhold stop and than trail my stop throughout the day when it turns positive. My risk is adjusted by buying less shares Risk per trade = (Entry price-minus stop price )* # of shares. IF they use a 3 point loss than hopefully they are adjusting risk by having even fewer shares rtharp
Thanks Rtharp: They play reversals mostly, not breakouts. I use a combination of trend lines, and a variace of fib retracement percentages based on actual price points; Basically determining if the price action is due for a reversal. I recognize how far the price action has run, and how fast. In addition when playing NASDAQ stocks, I also pay attetion to the NDX cash, in particular, along with the OEX to follow reversals of these averages with the same reversal identification criteria. When these match I feel I have the odds in my favor. The problem I had with this a chat room is that I feel that these guys know more than I do leading me to break from my individualism to follow(Not that I know more, but that psychological feelings take over). Then when the price action does not go in the direction expected, I get a panic feeling wanting them to hold my hand. Ex: Normally, I would short a stock, and stop out if it moves 40 to 50 cents in the opposite direction, and short again at a higher price level. When following someone elses call I give more room. The price action moves quickly one dollar, and more, where I take a loss right where I should be getting back in if I had followed my own strategy. Maybe when, or even if, I get L2 then I will be able to see how they make their calls. I noticed calls(breakouts) that didn't that I couldn't understand, and that would be where I could, or would not follow blindly, even if trying for only 50 cents. I think that going after 50 cents is good, but for me at this point-without L2, is to small(to much work; commissions). Thanks for pointing out Tony Oz's book. I will be ordering it shortly. Do you have a comparison to his latest book? Thanks, Jeffrey